This technical analysis examines whether Bitcoin has formed a local bottom after reaching critical support levels around previous swing lows. The analyst identifies key RSI trend lines on daily and 4-hour timeframes that have historically marked reversal points, with the daily RSI approaching a support line that triggered upside reactions since June. Critical support zones are mapped at 104,200 (current structural support) and 99K (55-week EMA), while resistance is defined between 110,460-114,372. The video explores two Elliott Wave scenarios: an extended Wave C/A of a correction versus already being in a downtrend's C-wave. With 4-hour RSI already oversold and daily approaching oversold territory—conditions that occur rarely and present buying opportunities—investors gain specific entry considerations and price levels to monitor for potential reversal signals or further downside continuation.